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Paying profit on a loan

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I have an interest loan which is fixed interest car loan. However i need a car for work and i am a salesman. I know this loan is haraam. I have asked family and friends to give me a loan but failed. Now I’m stuck with this loan and i would like to find out is there any place where i can get a sharia loan as i hate to be in interest. Please help as i have no barkat and i can pay any muslim willing to help me a profit rather than being in interest.

Bismillaah

A: Paying profit on a loan taken is in actual fact interest.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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